If you have, say 17 years in, you’ll get 38.5 weeks of pay, starting October 1st.
Then consider the company’s outlook: what will INTC be like over those next nine months… and beyond that timeframe… will they have another CPM action in H1’25? H2’25? Both? Wanna be there for that, or roll the dice on finding something external ahead of that?
Thoughts?
There will be another layoff for sure after this as the expected revenue for Q3 is expected to drop YoY. This information was already presented during the Earnings Call. Current layoffs are due to the failure in Q2, the failure in Q3 will be paid for as a new cycle of layoffs. Depending on the scale of the Q3 failure, we may have more or less than 15K people leaving in the next cycle.
So whatever you are planning to do, it is safe to assume large scale layoffs such as this one will persist for at least another quarter. What happens beyond that is anybody's guess!
Don’t assume today’s package is tomorrow’s package …. I’m going while the money is on the table
Don't come here to ask... do some actual thinking. Put it on paper, create a spreadsheet whatever. What are your monthly costs, how long can you pay those, when does your healthcare run out ( that's a big cost). You probably won't get a job until mid Q1 next year. Don't believe the BS about finding a job in a week unless you know someone who will hire you. It is typically 3-6 months in an average job market, this one is tight. You are going into the end of the year when companies slow hiring. Job postings are probably around 40% ghost jobs. It is really not hard to evaluate your options. Don't forget to add in the stress of the uncertainty. It is a really tough decision either way but you need to make it based on your situation.
The market is so competitive. It’s hard to say how ‘good’ prospects are, even for mid-career candidates with skills and paper. Networking….
If it were early retirement, I would not hesitate to say go. But do that math to see how much you would be giving up if you leave without retirement benefits and how many more years you have to work before retirement. I think Intel will get along just fine, it is just not going to be as big of a player any longer.
It's 4 weeks + (1.5 × 17) + 8 = 38.5 weeks.
That's almost 10 months. I'd take it
It looks like you would receive greater than 2 weeks/year of service. That's better than last year's CPM in which people received 1.5 wks/yr, unless I'm missing something. Originally, I was a little surprised that my plans were derailed from the layoff, but I landed and it has worked out. I hear morale is terrible. And this new round of layoffs sounds horrible. If I were you and you had marketable skills, I'd take the package and find some where else, even if we are looking at a recession as likely. More important, if you don't take it and there is a recession, they will decrease the package accordingly (in the event you end up getting laid off later anyway). Last, I think Pat will eventually split the company, I think he is just waiting to make Foundry large enough. Unfortunately, he might not have that luxury
allways better to have job than to not and be out there looking. be cautious
See above. Take the package and run unless you have absolutely no prospects of getting a new job.
Intel is dead you fool.
It’s trading below book value which means actually solvency is a non trivial thing to worry about.
Get out while you still can get something.